The Memphis appeal. [volume] (Memphis, Tenn.) 1886-1890, 1887-09-26
FINANCE AND commerce.
Money 8 Per Cent, New York Ex'
change Par Selling.
Cotton Easy - Midd1fng Cotton,
. I5-I8e-sales To-day 400
Bales.

ArPEAL 0yYIcE, I
SAvvapAY EVENING. September "a, 1887.
The money market remains very
arm, with ratee 8 per cent.
The New York Commercial Bulletin
remarks that cit is not easy TO under
stand why holders Of government 4!
per cents should decline to accept the
Treasury offer Of 1854 for them. The
bonds have but four years to run, &C
that the present premium Of s pei
cent. will be lost during that time,
The loes is equivalent to 2 per cent,
per annum, which makes the net an.
nual return to holders from now until
matuturity only q per cent. Ger.
tainly there are plenty Of absolutely
safe and long date investments that
would yield much higher rate OF In.
terest The government finds Its ad.
vantage In buying the bonds on these
terms In the fact that. having no
remunerative use for Its money, 1t
saves $40 Of the $lS, on every 500.
which IL would have to pay as interest
during the next four years."
The local cotton market closed easy
and unchanged. At New Orleans
spots closed easy, futures quiet and
steady, and of to Q points. New
York spots closed easy, with futures
very steady; September of points
and the late months up l point. A
leading New York cotton circular, OF
date the oath, says OF the future mar.
kei: "The market for cotton con-
tracts was only moderately active, but
on the whole pretty steady. During
the early portion OF the day few
points were lost, bat later the de-
mand was increased and final rates
were generally about the same ss last
evening, with considerable strength
shown. September Was without no
tceable strength, and expectations OF
Q fnsl squeeze are practically sban-
doned. Liverpool closed dull, tending
downward, with futures of 1 to 2
points.
Mr.. spreckels, the California tugar
manufacturer. believes that beet sugar
making, with his new machinery pro-
cured In Germany, will create one Of
the greatest industries In the United
ststsa He will establish q beet sugar
factory In Caliiornia, and large enough
10 use $50 tons Of bess g day, produ,.
Ing forty tons Of sugar. While In
Germany he purchased twenty. I've
tons Of beet sugar seed, which viii or.
rive In DscembS.
In Lake county, Florida, q movement
has been started, which is rapidly
spreading oil over the State, for the
organls,t!o Of Shipper Union 10
regulate the sale and shipment Of
oranges, lemons and other fruits. The
plan is TO dispense with the present
commission men In the Northern and
Western cities and place there inste,d
trusted sgsnts Of the union.
IMPORTS.
Forty bfls apples, 500 rolls bsagine,
1853 pkes bacon, 323 pkas boots and
shoes, 500 bu corn, 90 SKIS coffee, 39i
sks cotton eeed, liz pkgs dry goods, 80
pkes Gags, 9Is brls A)ur, 962 Gales
hay, so pkgs hats, 10 head hogs, As
head sheep, IL bead csttle, 10 heed
horses and mues, us pkgs lard, 81, 600
feet lumber, ~ pkgs liquors, 1916 brls
lime, IS brls meal, 9i5 kegs nails, II, ).
coo bu osts, IS brs onione, 81 brls
potatoes, 81 brls pork, 7 cars pork
sides, 90 pkgB rice, 100 brls sugar, 22d
pigs tobacco and 800 bu wheat.
KLKvAToR RrPoRr5.
The following shows the amount oil
grain received, Withdrawn and In store
by regular elevators. as reported 20 the
Merchants Exchange today: Wheat
In store. 6l,zl3 bushsls. Corn 70
eeived, $50 bushels; withdrawn, 1856
bushels; In store, bS05 bushels. 0itl
received, COS bushels: Withdrawn, 57(
L..k.i. IL. .sa.. 40 EQA huskaia